White Energy Company (WEC)

Coal-processing technology provider
White Energy
’s entrance into the S&P/ASX 200 drove the share price higher on Monday morning with the stock up 5¢ to $3.78 in early trade. White Energy’s was named in Australia’s top 200 listed companies after the index’s quarterly rebalance in June. The listing garnered further momentum for the stock, which had already gained about 58 per cent this year. The share price jumped more than $1 to $3.60 in April when the company announced it would buy South Australian Coal, the owner of a large coal resource in South Australia, for $39.3 million. White Energy’s chairman John McGuigan said the deal was “game changing" for the company’s shareholders, increasing the company’s size, scope and diversity. White Energy is focused on enhancing coal’s efficiency and eliminating waste, through its binderless coal briquetting technology.